Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: People don't understand BitUSD peg  (Read 341 times)

Offline hadrian

People don't understand BitUSD peg
« on: November 27, 2014, 12:33:39 PM »

This problem may be worse than I thought!
It's understandable that newbies judge the peg by the price on centralised exchanges with low volume, like this https://bitsharestalk.org/index.php?topic=11036.0

But it's gotta be a problem when more experienced people think the same way. Talking about volatility, and the peg, Adam B Levine mentions that there's almost no volume on bter, and that the rate is 95 cents on the dollar. It was on Let's Talk Bitcoin! #164 - The Page and the Notes with the Peertracks guys at about 30:30 minutes in.

People need to realise that the price of BitAssets aren't significant when it's exceptionally low volumes of exchange. Where the proper volumes of exchange occur (currently on the BitShares exchange) are where the price is relevant.

If I saw someone on the street being given a dollar for free by another person, would it make sense for me to start announcing that the price of the dollar was unstable and had collapsed? (I'm not saying this is equivalent to Adam's comment).


Edit: to be clear, when I say, 'it's gotta be a problem when more experienced people think the same way', I'm not saying there's a problem with BitUSD or the peg. I'm saying it's gotta be a problem for BitShares that people are misunderstanding the situation. I.e. what can we do to educate people and help them to see sense. Perhaps this is an issue which marketing can help with? I'd like to see an episode on LTB to set the record straight on many issues relating to the perception of BitShares...
« Last Edit: November 27, 2014, 01:15:35 PM by hadrian »
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

lzr1900

  • Guest
Re: People don't understand BitUSD peg
« Reply #1 on: November 27, 2014, 12:37:52 PM »
www.tradebts.com
Chinese community is helping the volume problem out.
try this.

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 11958
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BTS: xeroc
  • GitHub: xeroc
Re: People don't understand BitUSD peg
« Reply #2 on: November 27, 2014, 12:56:46 PM »
But it's gotta be a problem when more experienced people think the same way. Talking about volatility, and the peg, Adam B Levine mentions that there's almost no volume on bter, and that the rate is 95 cents on the dollar.
If you take a look at bter's bitUSD/USD market then you should also take a look at BTC/USD market .. same thing! Not an issue for bitUSD or BitShares .. the internal market is very well working with good liquidity ..

Either Adam doesn't know better or just sucks
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline hadrian

Re: People don't understand BitUSD peg
« Reply #3 on: November 27, 2014, 01:17:32 PM »
But it's gotta be a problem when more experienced people think the same way. Talking about volatility, and the peg, Adam B Levine mentions that there's almost no volume on bter, and that the rate is 95 cents on the dollar.
If you take a look at bter's bitUSD/USD market then you should also take a look at BTC/USD market .. same thing! Not an issue for bitUSD or BitShares .. the internal market is very well working with good liquidity ..

Either Adam doesn't know better or just sucks

I've added an edit at the bottom of my original post to clarify my statement.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline Rune

  • Hero Member
  • *****
  • Posts: 1120
    • View Profile
Re: People don't understand BitUSD peg
« Reply #4 on: November 27, 2014, 01:34:42 PM »
The problem is that having bitUSD on a Chinese exchange is completely useless, since no one uses USD there. We won't see centralized exchange bitUSD volume unless the exchange is in a country where USD is used, such as western countries or Asian financial centers.

Offline santaclause102

  • Hero Member
  • *****
  • Posts: 2479
    • View Profile
Re: People don't understand BitUSD peg
« Reply #5 on: November 27, 2014, 02:10:32 PM »
The problem is that having bitUSD on a Chinese exchange is completely useless, since no one uses USD there. We won't see centralized exchange bitUSD volume unless the exchange is in a country where USD is used, such as western countries or Asian financial centers.
+5%

 

Google+